Measuring core inflation

Article Abstract:

A novel approach to estimating core inflation is presented. The alternative technique was developed in view of the conceptual mismatch between measured Retail Prices Index inflation and core inflation, which refers to the measured inflation component which has no medium- or long-term effect on real output. It generates an estimate of core inflation based on a vector autoregression system and on the assumption that the measure of inflation is influenced by core inflationary disturbances and by disturbances which affect real output.

Models, Measurement, Estimation theory

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Inflation and Social Consensus in the Seventies

Article Abstract:

Differing inflationary response to supply shocks across countries is examined. Previous models are extended to consider: social consensus impact on real wage expectations, inflation expectation error, and varying money supply growth. The degree of social consensus is identified as the key factor in inter-country differences. The monetary policy of the country showed little impact.

Comparative analysis

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Incredibility and inflation in the EMS

Article Abstract:

This comment does not support the exchange rate hypothesis of M. Bleaney and P. Mizen discussing the European Monetary System.

Europe, Exchange Rates, Statistical Data Included, Research, European Monetary System

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